Credit crunch 'not affecting tourism'
The tourism industry is not being negatively affected by the global credit crunch, economic experts have revealed.
According to the CBI, consumer demand for trips to other countries has remained very strong.
This is despite the fact that many Britons have been forced to tighten their belts as a result of economic problems across the world.
The CBI stated that the credit crunch has already impacted on some parts of the UK economy, with consumer service providers in particular feeling the pinch.
However, people in Britain were said to still be willing to spend their money on foreign breaks.
Ian McCafferty, chief economic adviser at the CBI, commented: "Travel companies reported healthy demand for holidays in the past three months, with people more inclined to take a well-earned break as rising costs put greater demands on household spending."
This comes after a study by Moneysupermarket.com found that many Britons are planning to venture further afield for their holidays.
According to the website, this is because the weakness of the pound against the euro has made some traditional European hotspots more expensive than many long-haul destinations.
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